The banks are activating express foreclosure procedures
Statement by AKEL C.C. Spokesperson Stefanos Stefanou on the meeting of the Parliamentary Finance Committee
AKEL C.C. Press Office, 14th September 2020, Nicosia
The situation in the economy is difficult because of the pandemic
The situation in society is even more difficult for a large section of our fellow citizens.
The government must prioritise the provision of support towards working people, small and medium-sized businesses, the vulnerable groups and to all those affected by the situation that has developed due to the pandemic.
During the discussion in the Parliamentary Committee on Financial and Budgetary Affairs, AKEL raised this need with the Minister of Finance.
We pointed out a number of problems that need to be addressed, such as the issue of rents and the situation affecting working people, but also the SME’s active in the tourism sector etc.
We raised the issue of extending the period of the suspension of foreclosures. The Minister of Finance’s response was categorical: “We see no reason to extend the suspension of foreclosures.”
We point out that the banks have already activated the foreclosure procedures with the express procedures which the legislative framework that has been elaborated by the government provides for.
